United Bankshares, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
July 27, 2023 at 12:50 pm
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United Bankshares, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported net interest income was USD 227.46 million compared to USD 214.9 million a year ago. Net income was USD 92.46 million compared to USD 95.61 million a year ago. Basic earnings per share from continuing operations was USD 0.68 compared to USD 0.71 a year ago. Diluted earnings per share from continuing operations was USD 0.68 compared to USD 0.71 a year ago.
For the six months, net interest income was USD 461.78 million compared to USD 406.41 million a year ago. Net income was USD 190.77 million compared to USD 177.28 million a year ago. Basic earnings per share from continuing operations was USD 1.42 compared to USD 1.31 a year ago. Diluted earnings per share from continuing operations was USD 1.41 compared to USD 1.3 a year ago.
United Bankshares, Inc. is a financial holding company. The Company's segments include community banking and mortgage banking. The community banking segment includes both commercial and consumer lending and provides customers with such products as commercial loans, real estate loans, business financing and consumer loans. In addition, this segment provides customers with several choices of deposit products including demand deposit accounts, savings accounts and certificates of deposit as well as investment and financial advisory services to businesses and individuals, including financial planning, retirement/estate planning, and investment management. The mortgage banking segment engages primarily in the origination and acquisition of residential mortgages for sale into the secondary market though Unitedâs mortgage banking subsidiaries, George Mason and Crescent. The Company has one banking subsidiary doing business under the name of United Bank. It also owns nonbank subsidiaries.
UNITED BANKSHARES, INC. 
